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Gbpcadforecast

GBPCAD H4 LONG PRICE ACTION FORECAST -UPDATE-After the double top spotted from D1, the price action has been under a healthy correction. After the capturing of the bearish movement where the T/P is about to get hit allows the setup of a long entry to ride the upward momentum back to the previous swing high. A buy setup is placed with the following features. The order: Type: buy-limit S/L: 87 pips - R:R | 1:4 - T/P: previous high -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
GBPCAD, daily timeframe, 5th wave of Elliott WaveHello my friends, Today i noticed some good setup from GBPCAD. Previously this pair make an inverted shoulders head pattern and then push straight to the upside for 700 pips in 2 weeks. I tried to fit some fibonacci tools into it and count the waves according to Elliot Waves principle. Surprisingly, it looks like this pair just finished with the 4th Wave. Wave-4 is the shortest wave and usually it stopped at 38.2 fibonacci retracement. We could possibly see wave-5 from this point onwards and usually it ends at 127% fibonacci retracement of Wave-4 Wave-4 could never touch the area of Wave-1 so we could use stop loss a little below Wave-1. In this case, my stop loss is at 1.7200 Buy GBPCAD 1.7395 Stop loss 1.7200 Take profit 1 @1.7675 Take profit 2 @1.7870
Long
by HayatoDragonFX
GBPCAD ON THE VERGE OF A REVERSAL?!**ENG** - Price breaking our consolidation box and is now heading for a retest, we are expecting more downside after this same retest, wait for an entry confirmation before entering, look at the lower timeframes (such as 15min). **PT** - Preço a quebrar a nossa box de consolidação e está de momento a caminho de efetuar um retest, estamos à espera de um drop maior este mesmo retest, o ideal será aguardar por uma confirmação de entrada em timeframes inferiores (assim como 15min).
by Wevesting
GBPCAD H4 SHORT PRICE ACTION FORECAST The pair has been trading within a channel from a broader look (W1). Price has tested the resistance level from the structure. Now, it should move downward to complete the next leg towards the channel's support line. At H4, the price could not form a new fresh high, signaling the bearish pressure. After the current strong bearish candle, a pullback towards the recently broken support zone from the previous consolidation should be tested to trigger a short entry. The order: Type: sell-limit S/L: 77 pips - R:R | 1:2.3 - T/P: Fib level 0.5 as reversal point. -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
GBPCAD H4 SHORT PRICE ACTION FORECAST Price is currently trying to break the previous high. If it fails to breakthrough forming a new high, it will create a subtle double top pattern for a correction. A short entry can be taken to capture the downward movement towards the FIB level before the next impulse for the trend continuation. The counter-trend entry should be monitored cautiously, as the price could revert before reaching the T/P level. If everything, as forecasted, happens, it will also allow the setup of a long entry after confirmation of bullish continuation. The order: Type: sell-stop S/L: 53 pips - R:R | 1:2 - T/P: FIB level -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
GBPCAD | WEEKLY PERSPECTIVEWith over 170pips in our direction since my last publication (see link below for reference purpose), the British Pound appears to begin a new wave of Bullish run as it completes a 50% retracement at Demand zone (neckline) since Breakout occurred at the beginning of the month (July 2020). Tendency: Uptrend ( Bullish ) Structure: Double Bottom | Correction Observation: i. A correction into the neckline (Demand zone @ 1.69500) of my Double Bottom incites a possible uptrend continuation in the following week as price makes new Support.. Trading plan: BUY confirmation with a minimum potential profit of 300 pips. Risk/Reward: 1:2.5 Potential Duration: 4 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry
GBPCAD | WEEKLY FORECASTA similar scenario with GBPJPY: after hitting a Double Bottom in June 2020, The Pound began to build a Reversal structure this month (July 2020) as it Breakout of the neckline (1.69750 level) last week. Tendency: Temporary Uptrend ( Bullish ) Structure: Double Bottom | Support & Resistance Observation: i. Our Double bottom describes a change in trend which emphasizes a momentum reversal from prior Bearish price action. ii. A Breakout off of respected Resistance Key Level (since mid-June 2020) in the latter part of last week. iii . Expecting a Trend continuation after completion of Retracement of Impulse leg that led to Breakout of the neckline. NB: A Breakdown of 1.67700 might render this setup invalid Trading plan: BUY confirmation with a minimum potential profit of 350 pips. Risk/Reward: 1:2.5 Potential Duration: 1 to 7 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Long
by darcsherry